US Leveraged Loan Market Hits Record $986 Billion in 2024, Driven by Refinancing.

Companies in the US leveraged loan market have issued a record $986 billion of debt in 2024, surpassing the previous high set in 2017. The majority of this issuance has been driven by companies seeking to refinance existing obligations or secure lower interest rates through repricing.

This unprecedented level of activity in the leveraged loan market reflects a broader trend of companies taking advantage of favorable market conditions to reduce their interest expenses. Recent notable deals have involved firms such as Citadel and Fertitta Entertainment, highlighting the widespread nature of this refinancing wave across various sectors.

Report by Bloomberg